Carbon fibre in the automotive sector, a growth of 10.4% by 2021

The future of global automotive composites carbon fiber market looks promising with opportunities in various applications

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The future of global automotive composites carbon fiber market looks promising with opportunities in various applications, including exterior, power train system, under body system, chassis system, pressure vessel, interior, and others. Carbon fiber in the global automotive composites market is forecast to grow at a CAGR of 10.4% from 2016 to 2021.

The major growth drivers for this market are increasing automotive production and growing demand for lightweight materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions. Other major growth drivers include the growing demand for carbon fiber-reinforced plastics (CFRP) in luxury cars, race cars and other high-performance cars.

Emerging trends, which have a direct impact on the dynamics of the automotive composites carbon fiber industry, include development of transformative technologies and material systems to make carbon fiber parts for mass-volume vehicles